The company, which has sought to streamline itself in the years since the financial crisis, is emphasizing a “culture of simplification,” its chief executive, Jeffrey R. Immelt, wrote in an annual letter to shareholders published on Monday.

A group of smaller credit rating agencies outside the United States has formed Arc Ratings, a new company that the group hopes will provide a viable alternative to the so-called Big 3 credit rating agencies when it comes to international debt...